
New Tax Law Impact: Social Security, Debt, and Overtime
A new tax law impacts Social Security solvency, adds trillions to the national debt, and changes overtime deductions. It affects various income levels and social programs.
A new tax law impacts Social Security solvency, adds trillions to the national debt, and changes overtime deductions. It affects various income levels and social programs.
An ad claims a tax cut for Social Security recipients, but not all beneficiaries qualify. The proposed bill mainly targets those 65+, raising questions about its broad impact and misleading claims. Byrd rule involved.
Biden and Trump spar over Social Security's future, staffing, and potential benefit disruptions. Fact-checking reveals misleading claims and concerns about SSA's ability to function effectively.
In September 2015, the Social Security Administration began a process that automatically designates individuals aged 115 and older as deceased and ends payments to them.
Trump, who skipped a Republican debate to speak in Michigan that day, gave what the Detroit Free Press described as a “rollicking, bellicose speech to workers against automakers’ and the President Joe Biden administration’s efforts to push a transition to electric vehicles.”
The Baldwin ad features an April 24, 2012 appearance by Hovde, then in his first run for U.S. Senate, at the Milwaukee Press Club, where he was asked if he favors "either raising the retirement age and/or cutting benefits for those who are considered wealthy."
The National Republican Senatorial Committee recently claimed in an ad that Michigan’s Democratic U.S. Senate candidate, Elissa Slotkin, gave taxpayer money to immigrants who were in the U.S. illegally.
In 2013, economist Henry J. Aaron of the Urban Brookings Tax Policy Center warned the House Judiciary Committee that a Republican BBA proposal at that time “would negatively impact the economy and threaten the nation’s financial stability.”
Trump’s proposal to end federal taxes on tips (which Vice President Kamala Harris later said she also supports) is aimed at benefiting mostly low-income workers, though some economists doubt it will work.